1. Field of the Invention
The present invention relates to an electronic payment system, a payment apparatus and terminals thereof for electronic money transactions or financial dealings. More particularly, the present invention relates to processing payments by electronic money by validating the payments to prevent improper and fraudulent use.
2. Description of Related Art
In a conventional electronic payment system in which the payments on dealings are made by electronic money, there are possibilities of falsification and unfair use of the electronic money. Thus, the system was configured to use an improved encryption technique in order to prevent the disclosure of information regarding the electronic money, or to record the information regarding the electronic money on an IC (integrated circuit) card so as to allow the use and deposit of the electronic money only via an exclusive IC card reader.
The conventional electronic payment system using electronic money, described above, has a problem in that the exclusive IC card reader or a complicated authentication and encryption procedure is required so as to enhance security in order to prevent the falsification and unfair use of the electronic money, thus giving up the convenience of electronic money.